Key Points
Chemical manufacturer 3M will begin payments starting in the third quarter to many U.S. public drinking water systems as part of a multi-billion-dollar settlement over contamination with potentially harmful compounds used in firefighting foam and several consumer products, the company said..
The final approval of this settlement and continued progress toward exiting all PFAS manufacturing by the end of 2025 will further our efforts to reduce risk and uncertainty as we move forward," 3M's chairman and CEO, Mike Roman, said in a news release..
The deal compensates water providers for pollution with per- and polyfluorinated substances, known collectively as PFAS a broad class of chemicals used in nonstick, water- and grease-resistant products such as clothing and cookware..
Some of the settlement money will help additional water systems test for contamination from PFAS, said Scott Summy, one of the lead attorneys for those suing 3M and other manufacturers..
Also, last June, DuPont de Nemours Inc. and spinoffs Chemours Co. and Corteva Inc. reached a $1.18 billion deal to resolve PFAS complaints by about 300 drinking water providers..
